Future Interest

Future Interest

A claim on property, real or personal, that will begin at some point in the future. A future interest allows the grantor to retain the right to use that property until the specified transfer date. Future interest agreements are often used by donors for tax purposes. For example, a person may grant a future interest in his or her home to a charity, with the stipulation that he will retain use of the home for the remainder of his life, also called a "life estate." Although the charity will not receive the property until the donor's death, the donor can claim a tax deduction the same year the future interest is granted. Also called future estate.

Cross-references

future interest

n. a right to receive either real property or personal property some time in the future, either upon a particular date or upon the occurrence of an event. Typical examples are getting title upon the death of the person having present use, outliving another beneficiary, reaching maturity (age 18), or upon marriage.

In the perilous uncertainty of our present situation, it is hard to say what future interests may not depend upon the regularity of the entries in my journal, and upon the reliability of my recollection at the time when I make them.

If by chance they are revolutionary, they are so only in view of their impending transfer into the proletariat, they thus defend not their present, but their future interests, they desert their own standpoint to place themselves at that of the proletariat.

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